But, you may not know a good location from a great location if you are from out of the Miami Beach area. Here is the unofficial hierarchy of Miami Beach Waterfront home locations:

Hierachy of Best Miami Beach Waterfront Home Locations

Star Island - facing South/Southwest are the most valuable property locations as you have panoramic views of downtown Miami from the back yard-spectacular at night. Imagine watching the fireworks with 100 of your closest friends on the Fourth of July and New Year's Eve.

Sunset Islands - (homes with S/SW views only) Sunset Islands I and II hold the most land value, then Sunset Islands III and IV. Once again, wide bay south/southwest views of downtown are the best, then homes with wide bay views facing west or north/northwest.

Palm Island (east side/estate homes). Big south facing downtown views, yet you will hear the hum of traffic from the MacArthur causeway.

Venetian Islands (homes facing south only). These homes on S Venetian Way and the point lots on Rivo Alto, Dilido, and San Marino Islands have the prime downtown views. In addition, you have nice views of the boats moored in the little bay area south of the Venetians.

Lower North Bay Road homes face the Sunset Islands with west facing views, yet this location offers more protection for your yacht compared to homes on the wide bay. In addition, homes on lower N Bay Rd are considered "South Beach". You can walk or bike to the new Publix, Sardinia and Lincoln Road.

Pinetree Drive facing east. Most of these homes have 100' to 175' on the water. Your backyard view is of the intracoastal waterway. This is a terrific location for yacht owners.